What's happened
Thanksgiving grocery prices are down 5% from 2023, averaging $58.08 for a meal for 10, according to the American Farm Bureau Federation. However, prices remain 19% higher than in 2019, reflecting ongoing inflation concerns among consumers as they prepare for the holiday.
Why it matters
What the papers say
According to Axios, the American Farm Bureau Federation's survey indicates that while Thanksgiving meal costs are lower than last year, they are still significantly higher than pre-pandemic levels. Business Insider UK notes that food prices have taken a larger share of consumer budgets, with many families feeling the pinch. The survey also highlights regional price differences, with Hawaii and Alaska being the most expensive states for turkey, as reported by FinanceBuzz. Overall, while there are slight improvements in pricing, the lingering effects of inflation continue to shape consumer behavior and expectations.
How we got here
The American Farm Bureau Federation's annual survey highlights grocery price trends for Thanksgiving, revealing a slight decrease in costs this year. Despite this, inflation continues to affect consumer perceptions and spending habits.
Common question
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Why Are Thanksgiving Dinner Costs Cheaper This Year?
As families prepare for Thanksgiving, many are curious about the costs associated with their holiday meals. This year, Thanksgiving grocery prices have seen a slight decline, but what does this mean for your holiday budget? Below, we explore the reasons behind the changes in pricing and how families can navigate their holiday spending.
More on these topics
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Thanksgiving is a national holiday celebrated on various dates in the United States, Canada, Brazil, Grenada, Saint Lucia, and Liberia, and the sub-national entities Leiden, Norfolk Island, and Puerto Rico.
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Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas.
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The American Farm Bureau Federation, more commonly known as Farm Bureau Insurance and Farm Bureau Incorporated, is a United States-based insurance company and lobbying group that represents the American agriculture industry.